Covina, CA 91723,654 East Ruddock Street
Covina, CA 91723,654 East Ruddock Street
Covina, CA 91723,654 East Ruddock Street
9
Listed by Kristopher German • RE/MAX 2000 REALTY
$1,625,000
$1,575,000
3.2%
Est.Price: ?

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6,375 SqFt

654 East Ruddock Street Covina, CA 91723

Est. payment /mo
SOLD DATE : 05/15/2024

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Key Details

Sold Price $1,625,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

Square Footage 6,375 sqft

Price per Sqft $254

MLS Listing ID CV-24065005

Sold Date 05/15/24

Year Built 1962

Lot Size 8,148 Sqft

Property Description

JUST REDUCED! MOTIVATED SELLER! We are pleased to offer for sale this prime 6 unit multi-family investment nestled in the heart of the city of Covina. Priced at a 5% CAP Rate and 12.85 GRM (with about 30% upside in rental income) the subject property features a compelling unit mix of a Two-Story Townhouse with 2 Bedrooms/1.5 bathrooms, alongside five additional 2-Bedroom/1-Bathroom units. Spanning 6,375 square feet of rental space on an 8,148 square foot lot, the property has been thoughtfully designed to meet the needs of modern living. Each unit is separately metered for electricity and gas, providing ease of utility management and cost efficiency. Tenants are afforded the convenience of covered car-port parking and an onsite laundry facility, adding to the appeal of these units. Located just minutes from the vibrant "Downtown" Covina area, residents have easy access to a variety of shops, restaurants, and entertainment options, enhancing the rental attractiveness of this property. Perhaps most notably, this investment offers a significant opportunity for revenue growth, with a potential 30% upside in rental income. This combination of location, quality, and income potential makes this Covina property an enticing option for investors looking to expand their portfolio in a desirable market.

Location

State CA

County Los Angeles

Zoning CVRD2000*

Interior

Laundry Community, Inside

Exterior

Parking Features Gated

Pool None

Community Features Curbs, Gutters, Sidewalks

Building

Lot Description Lot 6500-9999, 6-10 Units/Acre

Sewer Public Sewer

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agent

Maureen Alphonso

Agent | License ID: 01734126

+1(805) 279-6885

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